AppLovin Co. (NASDAQ:APP) Receives $310.71 Average Target Price from Brokerages

AppLovin Co. (NASDAQ:APP) has been given an average recommendation of “Moderate Buy” by the nineteen analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $310.71.

Several research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Stifel Nicolaus raised their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Piper Sandler started coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective for the company. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $280.00 in a report on Friday, November 8th.

AppLovin Stock Down 3.4 %

AppLovin stock opened at $323.83 on Wednesday. The stock has a market cap of $108.67 billion, a PE ratio of 98.13, a price-to-earnings-growth ratio of 4.17 and a beta of 2.28. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a fifty day moving average of $288.01 and a 200 day moving average of $165.04. AppLovin has a one year low of $37.40 and a one year high of $417.64.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 EPS. As a group, sell-side analysts predict that AppLovin will post 4.06 EPS for the current year.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the sale, the insider now owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Herald Y. Chen sold 99,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total transaction of $32,620,500.00. Following the transaction, the director now owns 621,209 shares of the company’s stock, valued at $204,688,365.50. This trade represents a 13.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 888,867 shares of company stock worth $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several large investors have recently added to or reduced their stakes in APP. National Bank of Canada FI boosted its holdings in shares of AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock worth $131,000 after purchasing an additional 39 shares during the period. Great Valley Advisor Group Inc. lifted its position in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after buying an additional 60 shares during the last quarter. HM Payson & Co. boosted its stake in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the period. Aptus Capital Advisors LLC increased its position in AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after acquiring an additional 104 shares during the last quarter. Finally, Ashton Thomas Securities LLC raised its stake in shares of AppLovin by 2.6% in the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after acquiring an additional 121 shares during the period. 41.85% of the stock is owned by institutional investors.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.